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22 European Countries Sign An Agreement on Blockchain Partnership

Apr 12, 2018 Posted /  1548 Views

22 European Countries Sign An Agreement on Blockchain Partnership

22 European Countries Sign An Agreement on Blockchain Partnership

As indicated by the European Commission site. Twenty-two European countries signed a declaration to set up a European blockchain Partnership.

The European Commission welcomes all individuals from the EU and European Economic Area to join the partnership.The twenty-two nations participating incorporates Austria, Belgium, Bulgaria, Czech Republic, Estonia, Finland, France, Germany, Ireland, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and the UK.

The association is entrusted with enabling member nations to share understanding and expertise in the growing technology,  to make a way for a Digital Single Market that will profit the public and private sectors both. The organization sees it's definitive objective of Europe staying at the front line of blockchain technology's development.

The website portrays blockchain as an innovation equipped for boosting trust. One that may be utilized to share data and record transactions in a secure and permanent way.

As the technology is  being used all over the world, in the financial sector, the association wants to embrace it incorporate it for digital services that will profit other businesses in the coming years. The announcement on the website depicts how a European wide Digital Single Market made to take advantage of the collective attributes innate to blockchain and its applications will avoid divided methodologies by single countries.

This approach ought to permit all individuals to equal input to making an empowering community that backs full consent with EU regulations and that will urge blockchain based administrations to succeed all over Europe.

Commissioner for Digital Economy and Society, Mariya Gabriel, was cited in the announcement about the partnership:

“In the future, all public services will use blockchain technology. Blockchain is a great opportunity for Europe and the Member States to rethink their information systems, to promote user trust and the protection of personal data, to help create new business opportunities and to establish new areas of leadership, benefiting citizens, public services and companies. The Partnership launched today enables Member States to work together with the European Commission to turn the enormous potential of blockchain technology into better services for citizens”.

The European Commission has contributed more than 80 million Euros to help the improvement of blockchain for the advantage of city and societal zones. Another 300 million Euros will be put aside to know about the technology by 2020. The Commission even launched the EU Blockchain Observatory and Forum in February 2018.


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Tags: Blockchain Partnership blockchain Europe

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